Ahead of the Curve - Downtown Plan
Overview
The document is titled "Ahead of the Curve" and serves as the cover for the Altoona Housing Strategy & Downtown Investment Plan. It outlines a strategic initiative designed to improve the economic health of Altoona, Pennsylvania, by revitalizing its downtown core.
Key Objectives
The plan aims to:
- Demonstrate existing real demand for residential housing in downtown Altoona.
- Provide tools for future economic development, including conceptual floor plans and construction cost assumptions.
- Guide city leaders in anticipating and planning for future developments to gain from emerging opportunities.
Project Background
- Context: It is a direct result of the City’s Act 47 status.
- Team: The study team included real estate developers, architects, land-use specialists, economic/market researchers, and construction contractors.
Report Contents
The document details that the full report includes:
- Evidence of existing demand for downtown housing based on quantitative and qualitative survey data.
- Illustrations of new market demand levels demonstrated by current residential projects.
- Six case studies featuring conceptual floor plans, construction cost assumptions, and pro formas for potential development sites.
- Information on potential sources of gap funding to assist building owners.
Stakeholders and Contributors
The document acknowledges several key groups involved in the planning process:
- John Espenshade (Act 47 Coordinator, City of Altoona)
- Lee Slusser (Planning Director, City of Altoona)
Steering Committee Leaders:
- Marty Marasco (Altoona Blair County Development Corporation / Greater Altoona Economic Development Corporation)
- Pat Miller (Altoona Blair County Development Corporation / Greater Altoona Economic Development Corporation)
- Jane Sheffield (Allegheny Ridge Cooperation)
Team Members: Representatives from various organizations contributed to the team, including:
- Fourth River Development LLC
- Pfaffmann and Associates
- Fourth Economy Consulting
- LaQuatra Bonci Associates
- Looney Ricks Kiss
- AIA Architect (Judy Coutts)
- RDC, Inc.
Target Audience and Impact
The strategy focuses on creating higher-priced units with more amenities in walkable settings. It aims to transform the community by increasing area employment opportunities and encouraging residential growth within Altoona’s core. The plan is intended to be a transparent tool that allows assumptions to be modified as new information becomes available.